Published Date : Feb 06, 2017
ALBANY, NY, Feb 06, 2017: MarketResearchReports.biz has announced the addition of a new market intelligence report to its report repository. The publication is titled, “Global Capric Acid Market 2017-2021.” The market intelligence publication delves into the possible growth opportunities for the global capric acid market and the chronological growth of the market throughout the forecast period. It also uniquely provisions required data related to facers such as dynamics influencing the progress in all possible retrospective manner. Several ubiquitous and non-ubiquitous trends have also been mentioned in the study. The report further reaches out to point out accomplishments related to R&D, acquisitions, mergers, and crucial partnerships and verifications. The companies in limelight have been analyzed on market shares, products, and key strategies.
Also known as decanoic acid, capric acid is a type of saturated fatty acid with a series of 10 carbon atoms. Collectively with other different medium-chain triglycerides, capric acid is considered to be a crucial good health contributor. Capric acid’s most common applications are in pharmaceutical, food and beverage, and personal care and cosmetics industry. According to the report, the global capric acid market is likely to register a 6.85% CAGR from 2017 to 2021. One of the primary drivers of the global capric acid market is the extensive progress of the food and beverages industry.
It has been observed by the industry experts that food production across the globe has witnessed a significant surge over the last couple of years owing to high demand from Africa and Asia Pacific. As capric acid is mostly used in food and beverages, the growth in the segments of the beverage industry such as beer, coffee, tea, carbonated drinks, and bottled water will also drive the growth of the capric acid market in the coming years. The leading contributor in the market is expected to be mainly vegetable and fruit juices as their demand is taking a surge in the U.S. The application of capric acid is also likely to rise in meat processing units, wineries, breweries, and in several food items.
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In terms of end user, the market has been segmented in to pharmaceutical, food and beverage, and personal care and cosmetics. In 2016, the segment of personal care and cosmetics was the leading end user in the global capric acid market. Capric acid is basically employed as an emollient for absorbing vitamins and several other active elements by the epidermis and is thus found in many personal care items such as eye creams, anti-aging serums, sunscreen lotions, moisturizers lotions, lipsticks, and perfumes. The improving lifestyle of consumers and increasing disposable is likely to fuel the consumption the aforesaid, thus benefitting the market for capric acid.
Geographically, the global capric acid market is classified into the Americas, Asia Pacific, Europe, and the Rest of the World. It has been estimated that Asia Pacific will emerge dominant in terms of consumption until the end of the forecast period owing to the progress of the food and beverages industry in countries such as Indonesia, Japan, and China. The leading players in the market are VVF, Temix Oleo, P&G, Henan Eastar Chemicals, and Ecogreen Oleochemicals.
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